By Nneka Nwogwugwu
The Economic Development Administration (EDA) has assured that it is at the forefront of sustainable economic development.
The organisation made this known in the statement on Thursday.
Commemorating the World Earth Day 2022, EDA recognizes that economic vitality, climate resilience, and quality of life are closely linked through the global ecosystem, and that the promotion of innovation and competitiveness, and the creation of good-paying jobs, is inseparably entangled with respect for people and planet.
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The organisation highlighted its transformational work to mark the Day.
According to them, since Earth Day 2021, EDA has awarded a score of transformational grants that are making good on our commitment. They include:
Blue Economy: Through the Build Back Better Regional Challenge, EDA has awarded grants to four different regional industrial clusters focused on growing the Blue Economy. Moreover, each of the organizations supporting these clusters — Washington Maritime Blue, the Southeast Conference (Alaska), the University of Southern Mississippi, and the URI Research Foundation (Rhode Island) — is under consideration to receive an additional $100 million from EDA to support its programs.
Coal Communities: EDA committed $2.6 million to build and establish a clean energy products manufacturing facility in Harrison County, West Virginia. The construction of this new facility in a hard-hit former coal mining community is expected to create 200 jobs and generate $4 million in private investment.
Economic Transformation: Nearly $2 million was invested in the Natural Energy Lab of Hawaii to support business retention and growth initiatives at the Hawaii Ocean Sciences and Technology Park, an outdoor demonstration site for renewable technologies. The grant is expected to create 250 jobs and spur $40 million in private investment.
